Guam § 12111 - Depositories.
Full text of Guam Guam Code Annotated § 12111 — Depositories., with citation guidance and answers to common questions.
§ 12111. Depositories.
The corporation shall not deposit any of its funds in any banking
institution unless such institution has been designated as a depository by a
vote of a majority of the directors present at an authorized meeting of the
board of directors, exclusive of any director who is an officer or director of
the depository so designated. The corporation shall not receive money on
deposit.
Frequently Asked Questions About Guam § 12111
What does Guam Code Annotated § 12111 cover?
Section 12111 ("Depositories.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 12111?
A common citation format is "Guam Code Annotated § 12111" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 12111 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.